Fuel pump prices increased

Rwanda has increased fuel pump prices by Rwf 122 for petrol and diesel by Rwf 54 following changes on the international market. Rwanda Utility Regulatory Authority (RURA) announced the increase to take effect this Thursday November, 3rd 2016.

The new pump prices for petrol will be Rwf 948 per litre and diesel will go for Rwf 914 per litre, RURA said in a statement.

The prices for fuel have been fluctuating every few months as was announced from the previous changes in September which always depend about fluctuations on the international market.

In May, 2016, the Ministry of Trade and Industry (MINICOM) announced an increase in petrol and diesel prices. The ministry which still had the petroleum products docket increased pump prices on petrol and diesel from Rwf 826 to Rwf 860 per liter. The increase was due to international oil prices which increased by 35% between January and May 2016.

The increase followed yet another drop in January, when the ministry of Trade and industry announced a drop in fuel prices to Rwf 826 up from Rwf 874 that was effective 1st February, 2016.

On the announcement of a fall or increase in pump prices, consumers expect a reduction or rise in prices mostly on goods as well as transport fares. But officials said, the increase should not impact in prices on the consumer side mostly on transport fares.